4 findings from CDK’s Ease of Purchase Scorecard
Last week, CDK Global rolled out a new research project to gauge current and potentially future retail activities at dealerships.
The automotive retail software provider launched the Ease of Purchase Scorecard, a monthly snapshot of the consumer vehicle purchase process at dealerships.
According to the latest survey data, 82% of auto retailer customers are finding the vehicle purchase journey is becoming easier to navigate. CDK indicated the Ease of Purchase Scorecard revealed valuable insights for dealers looking to secure loyal customers and build trust for future sales, including:
• As inventory challenges continue to impact the industry, more than 50% of those surveyed are visiting auto retailers to order their vehicles or are selecting ones in transit versus finding a car or truck in stock.
• Whether starting the process with online shopping or visiting a dealer location, 67% of customers are finding it easier to find vehicles they hope to purchase.
• Price negotiation and trade-in processes are becoming smoother at the dealerships, with 58% of those polled found it easy to agree on a final price and 53% receiving trade-in value for their former vehicle.
• Consumer perception shows an increase in time from interest to acquisition, with 56% of those surveyed said the process met their expectations or was faster than anticipated, compared to 65% in August.
CDK said more than 1,000 customers were polled across the U.S. highlighting vehicle availability, the ease of securing cars or trucks of choice, and consumer expectations on time spent from the beginning of shopping experiences to completed sales.
“Dealerships will continue to play an integral role throughout the vehicle-purchase journey, securing cars and trucks that fit their customer’s lifestyle and in a timely and convenient manner,” said Peter Kahn, senior director of research and insights at CDK Global.
“The Ease of Purchase Scorecard will offer auto retailers up-to-date and detailed monthly snapshots on how dealerships can streamline that process and strengthen areas to create a positive experience that stays with the consumer,” Kahn continued in a news release.